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BANK OF BOSTON TO OPEN IN MEXICO

 BANK OF BOSTON TO OPEN IN MEXICO
 BOSTON, July 8 /PRNewswire/ -- Bank of Boston (NYSE: BKB), with the


third largest network of international offices of any U.S. bank, announced today that it has received approval from the Mexican government to open a representative office in Mexico City. The opening of an office in Mexico provides Bank of Boston with the opportunity to expand its international banking activities with Mexican companies and banks as well as foreign multinationals doing business there. An office in Mexico should also help Bank of Boston increase its trade finance and correspondent banking activities throughout Latin America.
 "The level of interest in Mexico is growing enormously worldwide and we are delighted to be part of this market opportunity," said Ira Stepanian, chairman and CEO of Bank of Boston. Stepanian announced the approval today at a luncheon sponsored by the Mexican Investment Board in downtown Boston.
 "The expansion into Mexico further enhances Bank of Boston's position as being a leader in providing financial services to importers, exporters, manufacturers and investors throughout major regions of Latin America," added Stepanian.
 With over 100 offices in 25 countries, Bank of Boston employs approximately 5,000 people outside of the United States and international operations account for 18 percent of the corporation's total assets. Approximately half of the bank's international operations are located in Latin America. In addition to Latin America, Bank of Boston is present in the Caribbean, Europe and the Far East.
 Bank of Boston Corporation is a New England-based superregional bank holding company. The corporation and its subsidiaries provide a broad range of financial services to individual, corporate, institutional and governmental customers, as well as to other banks. Its common and preferred stocks are listed on the New York and Boston stock exchanges.
 -0- 7/8/92
 /CONTACT: Constance Hubbel of Bank of Boston, 617-434-6883; or 508-745-3430 (home)/
 (BKB) CO: Bank of Boston ST: Massachusetts IN: FIN SU:


CN -- NE009 -- 7486 07/08/92 14:16 EDT
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Copyright 1992 Gale, Cengage Learning. All rights reserved.

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Publication:PR Newswire
Date:Jul 8, 1992
Words:330
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